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Call us for further information on:
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0116 240 4402
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or alternatively email us at:
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ifa@greyfriars.co.uk
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Property Purchase or ‘In-specie’ Transfer
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Many of our IFA introduced SIPP and SSAS clients are looking to buy commercial property or transfer in a property already owned by another pension arrangement.
Before we can proceed the client must read our property purchase guidance notes, complete the questionnaire attached to it and sign the authority for us to commission a land contamination site check survey. This must then be returned to us to enable us to obtain the land contamination report.
Hopefully we can then agree to accept the property under our trusteeship but, occasionally, we have to decline if the report indicates contaminated land.
The fee of £240 plus VAT must be paid by the client even if we must decline the property.
The questionnaire will give us details of the vendor, their solicitors, the purchase price, etc. If the property is being purchased by one SIPP or SSAS then the client can nominate their own solicitor.
If, however, there will be more than one owner we must nominate the solicitor acting for the purchaser and it will be a firm with proven expertise in this area.
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